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How to transfer your Preservation Fund to EasyEquities

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If you are looking to transfer your existing preservation fund from another provider to EasyEquities our transfer team will be able to help facilitate this process for you.

You can transfer your pension fund or provident fund from:

  • Your employer pension fund or provident fund, which becomes due to you when you leave their employ.
  • Another Preservation Pension Fund 
  • The proceeds from a divorce settlement from another Pension and or Preservation Pension Fund
  • The Government Employees Pension Fund

However, once you have transferred your funds to the EasyEquities Preservation Fund you will not be able to invest any additional money in your Preservation Pension Fund.

Here are the steps to take to begin the transfer:

Activate your Preservation Fund in your EasyEquities account, here is a guide on how to do this. Email retirement@easyequities.co.za and tell us where your Preservation fund is currently invested. We will require you to complete the Termination and Transfer documents for either the provident or pension fund depending on which fund you are transferring. Kindly email us the preservation fund transfer application form that is relevant to your transfer, a copy of your ID document (front and back), and proof of tax number - any SARS document displaying your name and tax reference number. 

Kindly contact your current RA provider and/or refer to your policy document for details to enter on the termination letter. Once we have received the above information, we will send you the below documents to sign and submit to your current Management Company to start the transfer process: 

  1. EasyEquities Application Form 
  2. EasyEquities Quote

Is there a penalty or a cost to transfer my Preservation fund to EasyEquities? 

There is no penalty or cost from our side. We have not come across another provider charging a fee to move a Preservation fund, but we suggest you ask anyway. There are no minimums on the EasyEquities Preservation Fund, so you can transfer whatever amount you currently have.

When is it permissible to access all your funds?

  • Should you officially emigrate with the South African Reserve bank 
  • Should you become incapacitated or permanently disabled and can no longer work and apply for early retirement.

Do I pay tax when withdrawing the 1/3 before retirement?

Should you do a partial withdrawal, you may be required to pay income tax. We will apply for your tax directive from SARS when you send your withdrawal request. Should anything be due this amount will be deducted before the funds are paid to you.

NB!

You are only allowed to withdraw once from your Preservation Pension Fund before you retire. You may select to do a partial or full withdrawal. After this withdrawal, you will only be able to access your funds at retirement.

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